ASEAN Medical and Wellness Tourism Market Analysis

ASEAN Medical and Wellness Tourism Market Analysis

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Based on category, the market is classified into wellness tourism and medical tourism. The wellness tourism segment generated the highest revenue of USD 37 billion in 2023.
 

• There is a growing awareness among individuals about the importance of health and wellness, leading to a rising demand for wellness tourism. People are increasingly seeking holistic approaches to health that combine medical treatments with wellness activities, such as spa treatments, yoga, and holistic therapies.
   
• Additionally, the ASEAN region is rich in diverse wellness offerings, including traditional healing practices, spa treatments, and holistic therapies. This variety attracts both local and international tourists seeking unique wellness experiences that are often culturally rooted and personalized.
   
• Moreover, many ASEAN countries offer high-quality medical and wellness services at significantly lower costs compared to western countries. This affordability, combined with the value for money provided by comprehensive wellness packages, makes the region an attractive destination for wellness tourism, thereby leading to the segment growth.
   

Thailand medical and wellness tourism market accounted for USD 24.4 billion market revenue in 2023 and is anticipated to grow at a CAGR of 13.3% between 2024 and 2032.
 

• Thailand's medical and wellness tourism market has emerged as one of the key global destinations for medical travelers, driven by a combination of advanced medical infrastructure, affordable healthcare services, and renowned wellness centers. In recent years, Thailand has positioned itself as a leader in Southeast Asia for both medical procedures and holistic wellness offerings.
   
• This success can be attributed to several factors, including government support, strategic investments in healthcare, and the country’s established reputation for hospitality and quality care. For instance, in July 2024, Bangkok Hospital announced plans to invest USD 5 million in building a robotic surgery center, which is expected to focus on minimally invasive surgeries.
   

Malaysia medical and wellness tourism market accounted for USD 8.3 billion market revenue in 2023 and is estimated to hold substantial share between 2024 and 2032.
 

• Malaysia's medical and wellness tourism market has grown rapidly in recent years, establishing the country as one of the leading destinations in Asia for healthcare travelers. This growth is attributed to a combination of high-quality medical services, competitive pricing, government support, and strategic marketing efforts. In July 2024, the government of Malaysia announced the launch of the Flagship Medical Tourism Hospital Programme (FMTH) under the Malaysia Healthcare Travel Industry Blueprint 2021-2025 campaign. The program focuses on improving healthcare infrastructure, the quality of healthcare services, and the expertise of healthcare personnel.
   
• Moreover, the country’s healthcare system is known for its advanced medical infrastructure, internationally accredited hospitals, and highly trained medical professionals, many of whom have received international education and certifications. This strong healthcare foundation has helped Malaysia attract many medical tourists, particularly from neighboring countries like Indonesia, Singapore, and China, as well as from the Middle East.
   

Vietnam medical and wellness tourism market is projected to grow remarkably in the coming years.
 

• Vietnam’s medical and wellness tourism market is rapidly growing, driven by increasing government investments in healthcare infrastructure and a focus on expanding medical tourism. Key cities like Ho Chi Minh City and Hanoi are becoming medical hubs, offering services such as cosmetic surgery, dental care, orthopedic treatments, and fertility services at competitive prices compared to neighboring countries.
   
• Moreover, the authorities are actively involved in promotional activities to spread the awareness about medical services and products. For instance, in June 2023, Ho Chi Minh City Department of Tourism in collaboration with Department of Health arranged a press conference to create awareness about Ho Chi Minh City medical tourism products. Moreover, according to authority's estimates, the Ho Chi Minh City can be a potential medical tourism hotspot for patients in Northeast Asia or Europe.
   

Indonesia holds a dominant position in the ASEAN medical and wellness tourism market.
 

• Indonesia is emerging as a significant player in the market. Factors such as a growing focus on improving healthcare infrastructure, government support, and the country’s natural appeal for wellness experiences are creating a favorable environment for the growth of Indonesia's medical and wellness tourism market.
   
• While Indonesia is not yet as established as Thailand or Singapore in terms of medical tourism, it has been gaining attention due to its affordability, diverse treatment offerings, and the rising number of accredited healthcare facilities.